Browsing Tag
401(k) Contribution Limits
38 posts
A 401(k) contribution limit is the maximum amount of money an employee and, if applicable, their employer can contribute to a 401(k) retirement plan in a given year. Set by the IRS, these limits help regulate tax-advantaged savings. Employees can contribute up to an annual cap, and those aged 50 or older may add “catch-up” contributions. Limits can change each year based on inflation adjustments.
IRS Bumps 2022 401(k) Contribution Limit By $1,000
Catch-up contribution limits, annual IRA contribution limits remain unchanged
Freeze on 401(k) Contribution COLAs Removed from Stimulus Bill: ARA
The American Retirement Association announced Thursday that, after a week of intense lobbying by the industry advocacy organization, the freeze…
2021 401(k) Contribution Limits Released: IRS
As was widely expected, 401k contribution limits will not increase in 2021, the Internal Revenue Service (IRS) announced…
Ted Cruz’s AMORE Act Aims to Help 401(k) Participants Catch Up
Legislation was introduced last week by a group of Republican senators that would allow people to make catch-up…
IRS Releases HSA Contribution Amount for 2021
The Internal Revenue Service released inflation-adjusted contribution limits for health savings accounts (HSA) for 2021. As in previous…
New Bill Raises 401(k) Contribution Limits During COVID Crisis
The SECURE Act, CARES Act, and now the SAVERS Act? The top Republican on the House Financial Services…
Solo 401(k) Plans Expected to Surge as 2019 Draws to Close
Is the year-end rush on for the self-employed to start a solo 401(k) plan? One solo 401(k) plan…
IRS Bumps 2020 401(k) Contribution Limit to $19,500
The IRS announced Wednesday that the 2020 401(k) contribution limit will increase by $500, to $19,500 and the catch-up limit will also increase by $500.
IRS Reveals 401(k), IRA Contribution Limits For 2019
401(k) contribution limits rise to $19,000 in 2019, helping employees save more for retirement with updated IRA and Roth IRA limits.
Hatch Proposes ‘Mini-Rothification’ for 401(k)s, IRAs
Roth 401(k) catch-up contributions may shift to taxed upfront under Hatch’s proposal, raising limits but changing retirement savings rules.